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The Patient Protection and Affordable Care Act

Decent Essays

Davis Weiss

The Patient Protection and Affordable Care Act is a federal statute that was signed into law in America by President Barack Obama on March 23, 2010. It is divided into 10 titles.
The bill contains provisions that will go into effect on June 21, 2010 and September 23, 2010. Also, the additional provisions will go into effect in 2014. Title I of H.R. 3590 will ensure quality affordable health care for all Americans by eliminating discriminatory practices by health insurers such as pre-existing condition exclusions. Title I also extends dependant coverage up to age 26, caps insurance companies non-medical expenses, and prevents unfair termination of insurance policies. Title II expands eligibility for Medicaid to lower …show more content…

The Congressional Budget Office estimates that about 8 million such persons would remain uninsured. Additionally, the bill restricts access to abortion services in the Health Benefits Exchanges and, in particular, for people receiving federal subsidies. The Patient Protection and Affordable Care Act saves money by reducing the cost of premiums that families and individuals pay to maintain their health insurance policies. It also saves money by getting rid of waste in the medical industry by establishing a center where physicians can report waste and by supporting comparison shopping for medical equipment. In addition, the act helps small businesses to save money by giving them the opportunity to offer health benefits to their employees without devastating the budget of their company. The Patient Protection and Affordable Care Act raise revenue by imposing an annual fee on the health insurance sector. Such fees would be imposed on insurance companies that sell high cost health insurance plans. The fee is designed to generate smarter, more cost-effective health coverage choices. The reconciliation bill delays this new fee until 2018 so that plans have time to implement reform and begin to save from its efficiencies. The amount of the fee is $8.0 billion in 2014, $11.3 billion in years 2015-2016, $13.9 billion in 2017, and $14.3 billion in 2018. According to the Congressional Budget Office (CBO), the legislation

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